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Investors Shaken as Ark Invest’s Bitcoin ETF Bleeds $87 Million in a Single Day!

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Discover why Ark Invest’s spot Bitcoin ETF is experiencing a daily net outflow of $87 million and how this could impact the cryptocurrency market. Stay informed and make informed investment decisions with Ark Invest.



Ark Invest’s 21Shares ARKB fund experienced a significant net outflow of $87.5 million on Tuesday, the highest since its inception, as reported by SoSoValue. This outflow exceeded Grayscale’s GBTC, which recorded $81.9 million in outflows on the same day. The previous day, ARKB saw net outflows for the first time since its launch. Despite this, ARKB has managed to accumulate a net inflow of $2.2 billion to date, according to SoSoValue data.

On the flip side, BlackRock’s IBIT saw the highest net inflow of $150.5 million, followed by Fidelity’s fund adding $44.8 million. VanEck and Bitwise also witnessed inflows in the range of three to five million dollars. Overall, the 11 U.S. spot bitcoin ETFs saw a combined net inflow of around $39.47 million, based on SoSoValue data.

The outflows from spot bitcoin ETFs coincided with a decrease in bitcoin’s price on Tuesday. The cryptocurrency was trading at $65,881, down 1.4% in the past 24 hours and having dropped over 6.6% in the last seven days. The upcoming Bitcoin halving event, expected later this month, historically seen as a bearish event, has stirred discussions among industry experts. Justin d’Anethan of Keyrock mentioned that the halving could lead to a bullish cycle in the long term.

Morgan Creek Capital Management CEO Mark Yusko predicted an optimistic outlook for bitcoin, suggesting a potential value of $150,000 by the year-end spurred by the halving event. Meanwhile, the GMCI 30 Index, representing the top 30 cryptocurrencies, experienced a 1.2% decline in the last 24 hours.

As a disclaimer, The Block is an independent media outlet providing news, research, and data. Foresight Ventures is a majority investor in The Block, while also investing in other companies within the crypto space. Bitget is a key LP for Foresight Ventures. The Block operates independently to deliver objective and timely information about the crypto industry. It’s essential to note that this article is for informational purposes only and should not be considered as legal, tax, investment, or financial advice.

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